FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, March 8, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	March 8, 2018

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Mar 7, 2018
	Week ended Mar 7, 2018	Change from week ended
	Week ended Mar 7, 2018	Feb 28, 2018	Mar 8, 2017
Reserve Bank credit	4,354,327	- 11,766	- 66,318	4,355,053
Securities held outright¹	4,188,725	- 11,989	- 51,384	4,188,784
U.S. Treasury securities	2,424,343	- 6,672	- 39,247	2,424,402
Bills²	0	0	0	0
Notes and bonds, nominal²	2,293,885	- 8,244	- 46,526	2,293,885
Notes and bonds, inflation-indexed²	111,220	+ 1,477	+ 5,319	111,220
Inflation compensation³	19,238	+ 95	+ 1,960	19,297
Federal agency debt securities²	4,391	0	- 8,938	4,391
Mortgage-backed securities⁴	1,759,991	- 5,317	- 3,198	1,759,991
Unamortized premiums on securities held outright⁵	155,878	- 431	- 14,379	155,799
Unamortized discounts on securities held outright⁵	-14,111	- 18	+ 924	-14,100
Repurchase agreements⁶	0	0	0	0
Loans	13	- 10	+ 5	11
Primary credit	3	- 5	- 3	3
Secondary credit	0	0	0	0
Seasonal credit	10	- 4	+ 8	8
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,708	- 2	+ 3	1,708
Float	-285	+ 86	+ 47	-485
Central bank liquidity swaps⁸	65	- 7	- 426	65
Other Federal Reserve assets⁹	22,333	+ 602	- 1,110	23,273
Foreign currency denominated assets¹⁰	22,269	+ 133	+ 2,564	22,334
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,507	+ 14	+ 805	49,507

Total factors supplying reserve funds	4,442,345	- 11,619	- 62,948	4,443,136

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Mar 7, 2018
	Week ended Mar 7, 2018	Change from week ended
	Week ended Mar 7, 2018	Feb 28, 2018	Mar 8, 2017
Currency in circulation¹¹	1,629,524	+ 6,347	+ 104,494	1,633,084
Reverse repurchase agreements¹²	237,439	- 17,895	- 203,253	233,466
Foreign official and international accounts	222,869	- 9,959	- 21,529	219,171
Others	14,570	- 7,936	- 181,724	14,295
Treasury cash holdings	306	+ 11	+ 47	316
Deposits with F.R. Banks, other than reserve balances	277,785	- 19,364	+ 130,147	269,959
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	195,071	- 7,549	+ 106,851	187,515
Foreign official	5,255	+ 1	+ 90	5,254
Other¹³	77,459	- 11,816	+ 23,206	77,190
Other liabilities and capital¹⁴	45,276	+ 214	- 2,492	44,959

Total factors, other than reserve balances, absorbing reserve funds	2,190,329	- 30,688	+ 28,941	2,181,784

Reserve balances with Federal Reserve Banks	2,252,016	+ 19,069	- 91,890	2,261,352

Note: Components may not sum to totals because of rounding.

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
10.	Revalued daily at current foreign currency exchange rates.
11.	Estimated.
12.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
14.	Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Mar 7, 2018
	Week ended Mar 7, 2018	Change from week ended
	Week ended Mar 7, 2018	Feb 28, 2018	Mar 8, 2017
Securities held in custody for foreign official and international accounts	3,440,379	+ 22,047	+ 257,649	3,445,725
Marketable U.S. Treasury securities¹	3,095,637	+ 21,232	+ 242,608	3,101,474
Federal agency debt and mortgage-backed securities²	264,195	+ 723	- 2,310	263,595
Other securities³	80,548	+ 93	+ 17,353	80,657
Securities lent to dealers	26,608	+ 123	+ 3,484	25,136
Overnight facility⁴	26,608	+ 123	+ 3,484	25,136
U.S. Treasury securities	26,608	+ 123	+ 3,544	25,136
Federal agency debt securities	0	0	- 60	0

Note: Components may not sum to totals because of rounding.

1.	Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 7, 2018

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans	3	8	0	0	0	...	11
U.S. Treasury securities¹
Holdings	0	120,481	298,426	1,081,448	297,887	626,160	2,424,402
Weekly changes	0	+ 28,479	- 28,475	+ 22	+ 41	+ 93	+ 160
Federal agency debt securities²
Holdings	0	0	1,982	62	0	2,347	4,391
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	173	36,664	1,723,154	1,759,991
Weekly changes	0	0	0	+ 3	+ 575	- 558	+ 19
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	65	0	0	0	0	0	65

Reverse repurchase agreements⁴	233,466	0	...	...	...	...	233,466
Term deposits	0	0	0	...	...	...	0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.	Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
2.	Face value.
3.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
4.	Cash value of agreements.
5.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Mar 7, 2018
Mortgage-backed securities held outright¹	1,759,991

Commitments to buy mortgage-backed securities²	17,069
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	3

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2.	Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3.	This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Mar 7, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,708

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.³	0

1.	Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Assets are revalued quarterly.
2.	Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.
3.	Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Mar 7, 2018	Change since
			Wednesday	Wednesday
			Feb 28, 2018	Mar 8, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,900	- 19	- 34
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,330,493	- 54	- 64,838
Securities held outright¹		4,188,784	+ 180	- 51,385
U.S. Treasury securities		2,424,402	+ 160	- 39,248
Bills²		0	0	0
Notes and bonds, nominal²		2,293,885	0	- 46,526
Notes and bonds, inflation-indexed²		111,220	0	+ 5,319
Inflation compensation³		19,297	+ 160	+ 1,960
Federal agency debt securities²		4,391	0	- 8,938
Mortgage-backed securities⁴		1,759,991	+ 19	- 3,200
Unamortized premiums on securities held outright⁵		155,799	- 245	- 14,372
Unamortized discounts on securities held outright⁵		-14,100	+ 28	+ 925
Repurchase agreements⁶		0	0	0
Loans		11	- 16	- 4
Net portfolio holdings of Maiden Lane LLC⁷		1,708	0	+ 4
Items in process of collection	(0)	86	- 13	+ 20
Bank premises		2,194	- 12	- 3
Central bank liquidity swaps⁸		65	- 7	- 426
Foreign currency denominated assets⁹		22,334	+ 245	+ 2,664
Other assets¹⁰		21,080	+ 2,557	- 1,129

Total assets	(0)	4,396,097	+ 2,696	- 63,743

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Mar 7, 2018	Change since
			Wednesday	Wednesday
			Feb 28, 2018	Mar 8, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,585,789	+ 5,804	+ 103,297
Reverse repurchase agreements¹¹		233,466	- 43,992	- 219,785
Deposits	(0)	2,531,312	+ 41,317	+ 54,855
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,261,353	+ 53,045	- 89,778
U.S. Treasury, General Account		187,515	- 11,875	+ 121,352
Foreign official		5,254	- 1	+ 89
Other¹²	(0)	77,190	+ 147	+ 23,192
Deferred availability cash items	(0)	571	- 335	- 60
Other liabilities and accrued dividends¹³		5,782	- 111	- 682

Total liabilities	(0)	4,356,921	+ 2,684	- 62,375

Capital accounts
Capital paid in		31,677	+ 13	+ 1,133
Surplus		7,500	0	- 2,500
Other capital accounts		0	0	0

Total capital		39,177	+ 13	- 1,367

Note: Components may not sum to totals because of rounding.

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9.	Revalued daily at current foreign currency exchange rates.
10.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13.	Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, March 7, 2018

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificate account	11,037	349	3,592	348	553	776	1,520	737	341	191	292	916	1,422
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,900	57	48	193	130	273	194	305	35	52	114	197	301
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,330,493	84,374	2,438,459	111,811	125,580	253,725	254,908	182,140	57,746	33,765	61,418	173,362	553,203
Securities held outright¹	4,188,784	81,613	2,358,670	108,153	121,471	245,423	246,567	176,175	55,856	32,658	59,407	167,690	535,101
U.S. Treasury securities	2,424,402	47,236	1,365,161	62,597	70,305	142,047	142,709	101,967	32,329	18,902	34,384	97,056	309,708
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,424,402	47,236	1,365,161	62,597	70,305	142,047	142,709	101,967	32,329	18,902	34,384	97,056	309,708
Federal agency debt securities²	4,391	86	2,473	113	127	257	258	185	59	34	62	176	561
Mortgage-backed securities⁴	1,759,991	34,291	991,036	45,442	51,038	103,119	103,600	74,023	23,469	13,722	24,961	70,458	224,832
Unamortized premiums on securities held outright⁵	155,799	3,036	87,729	4,023	4,518	9,128	9,171	6,553	2,078	1,215	2,210	6,237	19,903
Unamortized discounts on securities held outright⁵	-14,100	-275	-7,940	-364	-409	-826	-830	-593	-188	-110	-200	-564	-1,801
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	11	1	0	0	0	0	0	6	0	3	2	0	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,708	0	1,708	0	0	0	0	0	0	0	0	0	0
Items in process of collection	86	1	0	0	0	0	84	0	0	1	0	0	0
Bank premises	2,194	112	444	73	121	197	203	202	109	87	235	220	191
Central bank liquidity swaps⁸	65	3	21	3	5	14	4	3	1	0	1	1	10
Foreign currency denominated
assets⁹	22,334	968	7,153	1,201	1,819	4,826	1,303	935	244	94	217	285	3,288
Other assets¹⁰	21,080	442	11,301	537	616	1,428	1,258	885	564	177	360	863	2,650
Interdistrict settlement account	0	- 191	- 42,797	+ 503	- 2,441	+ 16,671	+ 13,805	+ 41,075	+ 24	+ 1,936	+ 7,087	+ 2,690	- 38,360

Total assets	4,396,097	86,311	2,421,748	114,879	126,621	278,322	273,933	226,706	59,214	36,393	69,877	178,816	523,279

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, March 7, 2018 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,767,795	57,476	602,710	54,017	84,881	120,208	242,744	114,885	52,227	30,828	47,524	139,962	220,332
Less: Notes held by F.R. Banks	182,006	6,683	48,649	6,814	9,660	14,081	25,837	12,524	5,176	3,607	6,154	17,313	25,508
Federal Reserve notes, net	1,585,789	50,794	554,060	47,204	75,221	106,127	216,907	102,361	47,051	27,221	41,370	122,649	194,825
Reverse repurchase agreements¹¹	233,466	4,549	131,463	6,028	6,770	13,679	13,743	9,819	3,113	1,820	3,311	9,346	29,824
Deposits	2,531,312	29,107	1,721,438	59,130	41,233	149,439	40,543	112,542	8,313	6,529	24,655	46,067	292,315
Term deposits held by depository institutions	0	0	0	0	0	0	0	0	0	0	0	0	0
Other deposits held by depository institutions	2,261,353	29,075	1,506,962	59,128	41,172	149,196	40,508	57,488	8,306	6,529	24,646	46,037	292,308
U.S. Treasury, General Account	187,515	0	187,515	0	0	0	0	0	0	0	0	0	0
Foreign official	5,254	2	5,227	2	3	9	2	2	0	0	0	1	6
Other¹²	77,190	30	21,734	0	58	235	33	55,053	7	0	9	30	2
Deferred availability cash items	571	0	0	0	0	0	78	0	0	493	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,867	46	990	52	72	134	127	68	27	14	24	76	238
Other liabilities and accrued dividends	3,915	155	1,448	178	184	467	293	265	131	136	131	201	328

Total liabilities	4,356,921	84,649	2,409,398	112,592	123,480	269,845	271,691	225,055	58,635	36,214	69,491	178,339	517,530

Capital
Capital paid in	31,677	1,342	9,985	1,861	2,535	6,856	1,808	1,332	470	145	312	384	4,645
Surplus	7,500	319	2,364	426	605	1,620	433	318	108	34	74	93	1,104
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,396,097	86,311	2,421,748	114,879	126,621	278,322	273,933	226,706	59,214	36,393	69,877	178,816	523,279

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, March 7, 2018 (continued)

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation below.
8.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9.	Revalued daily at current foreign currency exchange rates.
10.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13.	Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $7.5 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Mar 7, 2018
Federal Reserve notes outstanding	1,767,795
Less: Notes held by F.R. Banks not subject to collateralization	182,006
Federal Reserve notes to be collateralized	1,585,789
Collateral held against Federal Reserve notes	1,585,789
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,569,552
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,188,784
Less: Face value of securities under reverse repurchase agreements	234,038
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,954,746

Note: Components may not sum to totals because of rounding.

1.	Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

Statistical releases